Create an “extended warranty fund”
Instead of buying warranty after warranty, why not create an “extended warranty fund.” In other words, whenever a retailer offers you an extended warranty, simply transfer that amount of money into a dedicated savings account*.
If/when problems arise, you can simply pay for the repairs (or replacement) out of your warranty fund. And once the fund builds up to a sufficiently healthy size, you can back off on your contributions.
There are two main benefits to self-insuring in this way. First, you’ll get to earn interest on the money as it accrues. Second, you’ll be the one that gets to keep the cash when your stuff doesn’t break.
Sure, there are bound to be some instances in which you would’ve been better off with the extended warranty, but remember… These warranties are designed to be profitable. Thus, more often than not, you’ll come out ahead by skipping them entirely.

A new Gallup Poll finds 48% of Americans saying the amount of federal income taxes they pay is “about right,” with 46% saying “too high” — one of the most positive assessments Gallup has measured since 1956. Typically, a majority of Americans say their taxes are too high, and relatively few say their taxes are too low.

Living Standards/Labor Economist
The Economic Policy Institute is looking for an experienced economist for our flagship Living Standards program. In that position, the successful candidate would work with the Living Standards team to undertake a variety of research and analytical projects. They would be responsible for monitoring and commenting on current economic conditions, including labor market conditions; trends in income and wage outcomes; factors that impact low- and moderate-income workers; and others. They would also be expected to analyze and comment on related economic policies.
The position also includes a significant component of research dissemination and communication; working with EPI’s external/communications team to communicate findings to the media, public-interest organizations, the academic community, and policy makers in Congress and the administration.
The successful candidate would also help set the direction of the program by identifying new areas of inquiry and shaping programmatic activities.
The position reports directly to the Research and Policy director, but will also work closely with EPI’s president.

A package that provides funding for infrastructure, aid to states, and other provisions would begin to reverse our economic course by creating jobs while meeting national priorities. The package should also include a down-payment on longer-term reforms, as well. This memo outlines some elements that should be essential components of a more comprehensive recovery package and briefly examines the impact it would have on the economy and job creation.

The GAO is out with its first report on the Treasury’s TARP/CPP program. Implementing the transparency and accountability requirements should be a high priority for the new administration.
(Also, be sure to check out the nifty TED spread chart on page 50, and the bond-treasury spread on 51. And, if you want to scare yourself, the foreclosure chart on page 55.

TROUBLED ASSET RELIEF PROGRAM
Through the capital purchase program (CPP)–a preferred stock and warrant purchase program–Treasury provided more than $150 billion in capital to 52 institutions as of November 25, 2008. GAO recognizes that TARP has existed for less than 60 days and that a new program of such magnitude faces many challenges, especially in this current uncertain economic climate. However, Treasury has yet to address a number of critical issues, including determining how it will ensure that CPP is achieving its intended goals and monitoring compliance with limitations on executive compensation and dividend payments. Moreover, further actions are needed to formalize transition planning efforts and establish an effective management structure and an essential system of internal control.